LendIt’s co-founder Peter Renton gave an overview of the state of the billion-dollar market, which in 2014 provided $9b in consumer loans, $5b in small business loans and is projected to have been worth $2.4 billion in the UK economy.

He identified the growth in the student lending arena via short “code-course bootcamps”, enabling people to do contained 3-month modules and exponentially increase their earning capacity.

And whatever is happening in the USA & Europe is dwarfed by China, where 1.2 million people are engaged in peer-to-peer lending platforms; something which Renton described as a “secular trend” rather than being a bubble.

The big idea for the industry is ‘lending-as-a-service’, according to Renton who closed his analysis session by saying: “The Lending industry has changed forever and is not going back”.

LendIt USAis the world’s largest annual gathering of the online lending community. This year LendIt hosted the largest exhibition ever assembled in the P2P and online lending industry with every major platform from around the world, with 2,500 attendees. LendIt USA is the must-attend annual industry event.

Market Analysis: Global Overview

LendIt's co-founder Peter Renton gave an overview of the state of the billion-dollar market, which in 2014 provided $9b in consumer loans, $5b in small business loans and is projected to have been worth $2.4 billion in the UK economy.

He identified the growth in the student lending arena via short “code-course bootcamps”, enabling people to do contained 3-month modules and exponentially increase their earning capacity.

And whatever is happening in the USA & Europe is dwarfed by China, where 1.2 million people are engaged in peer-to-peer lending platforms; something which Renton described as a “secular trend” rather than being a bubble.

The big idea for the industry is 'lending-as-a-service', according to Renton who closed his analysis session by saying: “The Lending industry has changed forever and is not going back”.